KUALA LUMPUR: Malaysia continues to lead the global sukuk market with cumulative value of both domestic and international sukuk standing at US$612 billion (RM2.41 billion), according to the International Islamic Financial Market Sukuk (IIFM) Report 2018.
The figure is the cumulative amount for the period of 2002 to 2017.
IIFM report cites Malaysia, with a strong capital market base, is also maintaining its position as the world's largest sukuk issuer in 2017 amounting to US$52.14 billion, both for domestic and international sectors.
Labuan IBFC's Director-General of the Center for International Business and Finance Danial Mah Abdullah said Malaysia is expected to maintain the growth momentum of sukuk issuance in 2018 supported by the issuance of corporate sukuk as well the increasing interest in green sukuk.
"We see growth in sukuk issuance (in Malaysia) which is parallel to Labuan IBFC's projection for Malaysia in becoming a major issuer in the international market," he said.
He was speaking to the media at the IIFM Islamic Financial Market Seminar here today.
The seminar was organised with IIFM and Labuan IBFC.
Findings in the Sukuk IIFM 2018 report were also disclosed at the same event.
Meanwhile, IIFM chief executive Ijlal Ahmed Alvi said global sukuk growth was expected to moderate this year, with issuances dominated by sukuk segregation segments and quasi sovereignty.
The global sukuk issuance for 2017 is about US$116 billion.
He said efforts were also being made to standardise shariah-compliant documentation globally to facilitate cross-border trading players.